Project Risk

Project risk refers to the potential events or conditions that could negatively impact the success of a project. These risks can arise from various sources, such as financial uncertainties, technical challenges, or unexpected changes in project scope. Identifying and assessing these risks helps project managers develop strategies to minimize their impact, ensuring that the project is completed on time, within budget, and meets its goals. Essentially, project risk management is about anticipating problems before they occur and planning how to address them effectively.